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Buy Tata Motors; target of Rs 700: Motilal Oswal

Motilal Oswal is bullish on Tata Motors recommended buy rating on the stock with a target price of Rs 700 in its research report dated July 10, 2023.

July 11, 2023 / 13:56 IST
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    Motilal Oswal's research report on Tata Motors

    JLR’s FY23 annual report highlights that its strategy for transitioning to a modern luxury vision, centered around electric vehicles, is driven by three platforms. Refocus 2.0 ‘value creation system’ will simplify its operating framework and governance, with greater focus on systematic value creation and business excellence. It is strengthening and up skilling its human capital for skills of the future and preparing for the targeted transition. Additionally, it has entered into strategic partnerships for bringing new technologies to support the transformation and growth of its business. Lastly, it has maintained its sustainability goal of carbon net zero by 2039 by driving transition to all electric future.

    Outlook

    The stock trades at 19.3x/16.2x FY24E/FY25E consolidated P/E and 5x/4.2x EV/EBITDA. We reiterate our BUY rating, with a TP of ~INR700 (Jun-25E based SoTP).

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Tata Motors - 11 -07 - 2023 - moti

    Broker Research
    first published: Jul 11, 2023 01:56 pm

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